How to Eliminate Risk in Real Estate Investment

Written by Neda Dabestani-Ryba

Continued from page 1

6. Failing to Have Adequate Insurance - Investment property brings liability. Tenants, cars, parking lots, cleaning facilities, property liability -repparttar list is quite extensive. Adequate insurance coverage is an absolute must! Be sure to consult with an insurance professional and protect your hard earned assets.

7. Inspect, Approve, and Confirm All Documents - The list of documents that need to be proofed can be overwhelming torepparttar 150447 first time investor. Building permits, zoning laws, rental and lease applications, health licenses, laundry leases, underlying loan documents, CC&Rís, by-laws, title policies, mineral leases, inspection reports, purchase contracts, insurance.. donít attempt to do it alone. The right professional can remove most ofrepparttar 150448 stress and bringrepparttar 150449 transaction to a conclusion smoothly.

8. Get a Bill of Sale For All Property Involved - Many types of personal property (appliances, furniture, fixtures, etc.) can be involved in an investment sale. Be very detailed -know who owns what!

9. Charge Fair Rents - Vacancies, turnovers and lease terminators are your biggest expense. Charge fair rents, treat your tenants with respect and respond as quickly as possible to their needs. Itís a lot less costly inrepparttar 150450 long run to take care ofrepparttar 150451 little problems before they become big problems. Vacant property is your Achilles heel.

10. Select Qualified, Good Tenants Fromrepparttar 150452 Start - Takerepparttar 150453 time to check references. Previous landlords, employers, financial references, credit and judgments are all vitally important. If there are any questions do a thorough investigation. Drive by their previous residence. A little work up front can save tremendous problems later.

11. Make Sure You Get Estoppel Letters - Get letters from tenants confirmingrepparttar 150454 status of tenancy. Make sure their version ofrepparttar 150455 rental or lease agreement corresponds withrepparttar 150456 sellers interpretation.

12. Donít Spend Positive Cash Flow - Most of successful investors have free and clear properties. Be sure to re-invest your cash flow back intorepparttar 150457 property payment and speed uprepparttar 150458 amortization schedule. This decreases your debt load and increases your equity which builds your net worth. Investment property can be one ofrepparttar 150459 most rewarding aspects of your financial portfolio. Be certain to have all your ducks in a row before you invest. Do your homework! Consult with a professional real estate agent and protect yourself fromrepparttar 150460 hidden troubles that can plague first time investors.

Neda Dabestani-Ryba is a licensed Realtor in Maryland. She is a member of the President's Circle of Top Real Estate Professionals. She can be reached at (800) 536-3806 or visit her website for more information: Prudential Carruthers REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity

Refinancing Mortgage Loan - Get The Lowest Interest Rate You Can When Refinancing

Written by Carrie Reeder

Continued from page 1

3. Once you have received a few mortgage loan offers, talk to each loan officer and find out if you can negotiate with them for a slightly lower interest rate than they are offering you. Once you have received a few offers, you should have a pretty good idea of what kind of interest rate you can expect to get, realistically.

When refinancing, there are a few factors that are important to be very careful about. If you overlook an important detail like interest rate or closing costs, it could makerepparttar refinance hardly worth doing. You can save yourself potentially hundreds a month in unnecessary interest payments if you make sure you are gettingrepparttar 150446 absolutely lowest rate possible.

To see a list of recommended mortgage refinance loan companies online, visit this page: - Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and more about various types of loans.

    <Back to Page 1 © 2005
Terms of Use